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Cyprus, could it happen here in the US?
- Thread starter *Arturis*
- Start date
DeletedUser2259
No, here they will just call it a Wealth Tax.
They will start out saying it's only against the rich, then they will debate, posture, and make like they don't agree, then they will go in the back room, cut a deal, and then they will apply it to the middle class on up. Then they will blame each other for it.
Then we will re-elect them. Because we are so smart.
They will start out saying it's only against the rich, then they will debate, posture, and make like they don't agree, then they will go in the back room, cut a deal, and then they will apply it to the middle class on up. Then they will blame each other for it.
Then we will re-elect them. Because we are so smart.
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DeletedUser3
har har cavalier...
anyway, no. In the U.S., we have the FDIC, which serves to prevent this particular incident. It's a federal banking insurance, to protect our money, devised after the Great Depression to avoid what occurred then, what occurred in Argentina in 2000, and what just occurred in Cyprus.
anyway, no. In the U.S., we have the FDIC, which serves to prevent this particular incident. It's a federal banking insurance, to protect our money, devised after the Great Depression to avoid what occurred then, what occurred in Argentina in 2000, and what just occurred in Cyprus.
DeletedUser2259
Except... There is always an exception.. FDIC does not have the money nor the power to cover anywhere near all the depositors in the US....
.
And the US government can do anything it wants whenever it wants... Remember the tax reform act of 1986? Backwards disallowing of tax credits the government had actually encouraged, and then the penalties and interest so many middle class families had to pay. Leading then to the collapse of the real estate market, and the collapse of all the savings and loan associations (yes we have done this dog and pony show before several times) followed by the 1987 stock market crash....
.
And the US government can do anything it wants whenever it wants... Remember the tax reform act of 1986? Backwards disallowing of tax credits the government had actually encouraged, and then the penalties and interest so many middle class families had to pay. Leading then to the collapse of the real estate market, and the collapse of all the savings and loan associations (yes we have done this dog and pony show before several times) followed by the 1987 stock market crash....
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DeletedUser
Moscow has threatened to pull financial aid of 2.5 billion euros to Cyprus in retaliation for raid on bank accounts which President Putin says is unfair, unprofessional and dangerous. Government also suspending payment of pensions to Cypriot banks. $220 trillion debt in US $14 trillion economy. Global debt derivatives market $1 quadrillion global GDP $60 trillion. Don't you just love the banks and governments.
DeletedUser2381
I'm with ya Cav,
Spend, spend spend is all governments know and they do a damn good job of it.
To answer the question, I could see the manure hitting the fan 20 to 30 years down the road if we don't get spending under control.
Spend, spend spend is all governments know and they do a damn good job of it.
To answer the question, I could see the manure hitting the fan 20 to 30 years down the road if we don't get spending under control.
DeletedUser
Our debt is really bad... But we will never be like Cyprus... Just as long as the US "pays their monthly mortgage" then the countries we've borrowed money from are happy.
DeletedUser
Thanks for that info and there it is, always an underlying reason for the powers that be to use money/people as pawns in the finite resources game.
DeletedUser
I'll add my 'No, it won't happen here' in N.America, for many of the reasons already well stated.
DeletedUser3422
No. We have other options less likely to cause subjects to pick up pitchforks.
DeletedUser
Don't presume to put anything past the Tea Partiers and their proclivity to pick up pitchforks against the tyranny of the Socialistic, Commie, Marxist, Stalinist, Maoist, Fascist, Hitleresque, Demonic, Satanist, Radical Environmentalist, Hippie, Homosexual promoting, Elitist, Liberal, agenda that's somehow ruining their world and taking away their freedumbs.
I assure you, this day is coming:
;-)
DeletedUser34
Hmmmm Tea Partiers are generally peaceful people till they feel they have been trampled. Then to protect their interests, don't undermine our ability to land a pitchfork where it is most likely to cause the biggest reaction.
I am not convinced that this couldn't happen in this country. The FDIC is only as legit as the money backing it. I also agree it will trickle down to effect the poor. The same size cut, will always effect the poor more...it is what it is. Don't let those tree huggers fool you it won't. Maybe it won't happen exactly as it did in Cyprus, but something similar for sure.
I am not convinced that this couldn't happen in this country. The FDIC is only as legit as the money backing it. I also agree it will trickle down to effect the poor. The same size cut, will always effect the poor more...it is what it is. Don't let those tree huggers fool you it won't. Maybe it won't happen exactly as it did in Cyprus, but something similar for sure.
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DeletedUser
As to the bolded part, the problem with many of them, is that they 'feel' they're being trampled over the most inane things. Background check for gun ownership? Nope, that's trampling their right to own guns 'feelings'. Lowering the cost of healthcare through health care exchanges, less gouging by HMO's, and lowering the cost of healthcare for the poor and working poor? Nope, that's trampling the American way of life with socialism....even though they don't want Social Security or Medicare touched. Seperation of Church and State? Nope, that's trampling their right to practice their 'personal' religion. Let gay people marry? Nope, because that's trampling on the sanctity of their own marriages and subsequent divorces.
Are the Tea Partiers, 'bad' people? No, certainly not. Many are fine folks. Are they underinformed and in many ways illogical and grasping to ignorance in some areas of public policy and the social contract that civilized society's keep amongst themselves? Evidently so.
And apologies for the tangent away from Cyprus and what's happening there possibly happening in the U.S.
DeletedUser3422
We do have several unintended consequences on the horizon, it will be interesting to see which one becomes the next self made emergency.